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Trust seeks administrator bids for down‑payment program; TD Bank grant would fund rental assistance
Summary
The trust reviewed a proposal from MetroWest Collaborative Development to administer a down‑payment assistance program (first-year cost $11,250) and discussed an anticipated $175,000 grant from the TD Bank Charitable Foundation to support an emergency rental assistance program, with a 10% trust match pledged.
Trust members reviewed a statement of work and cost estimate from MetroWest Collaborative Development to administer a new down‑payment assistance (home‑buy) program. The first‑year fee the vendor proposed is $11,250; subsequent years were estimated just under $10,000 because start‑up tasks would be complete. Because the first‑year cost exceeds $10,000, state procurement rules require solicitation of at least two additional quotes; the trust will circulate a simple request‑for‑quotes to prior vendors and others, evaluate responses at the next meeting and proceed if competitive quotes are not received.
Separately, members discussed an emergency rental assistance program tied to a $175,000 TD Bank Charitable Foundation Homes for Everyone grant for which the trust has applied; the trust previously voted to pledge a 10% match ($17,500) to demonstrate local support. Staff said a funding decision is expected in April; if awarded, the trust would finalize a statement of work and proceed with competitive procurement where required.
The trust set a target of opening applications for the down‑payment program on or shortly after the start of the fiscal year (July 1) if procurement and any grant award timelines permit.
